Vizio sells voice-activated televisions, and needs a marketing plan. The product is not a game-changer, so the company needs to have a message that emphasizes total value over gimmick novelty, if it actually intends to sell the sets. People buy televisions because of picture/sound quality, then price, and then other features, in order of importance (Katzmaier, 2013). The marketing plan needs to recognize this -- focusing on voice activation will get the company nowhere if the picture or value are poor.
The first part of the marketing plan is the place strategy. Vizio needs to sell its televisions in the places where consumers go to buy televisions -- no other approach makes any sense at all. Vizio therefore needs to look at both online and offline channels. There is significant overlap since most retailers utilize both channels. Key retailers of televisions are Best Buy, Wal-Mart, Target, Costco and Amazon. Vizio can also operate as its own vendor, as many companies to in order to increase their margins.
The promotion strategy needs to emphasize a total value message, with the voice-activation as a kicker, which accentuates the sales pitch. The pitch needs to be compelling without the kicker, to put Vizio in the conversation for people looking at new TVs, and then the voice activation serves as the kicker to put Vizio over the top. Because Vizio is a largely unknown brand, there also needs to be a focus on creating brand awareness and on establishing brand position. The optimal marketing...
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